Baku, Azerbaijan, Oct.7
By Leman Zeynalova – Trend:
In the second quarter of 2019 39 LNG cargoes arrived from the US, unloading more than 3.6 bcm of LNG (in re-gasified form), amounting to an estimated €0.5 billion, Trend reports with reference to the European Commission’s gas market report.
“Both the number of cargos and LNG import volumes were up by several magnitudes compared to Q2 2018 (in that quarter only 2 cargos arrived, carrying only 0.2 bcm LNG). LNG exports to the EU represented 33% of total US LNG exports in Q2 2019,” said the report.
The European Commission said that in the second quarter of 2019 the five most important EU destinations of the US LNG exports were Spain and France (both slightly above 1 bcm), the Netherlands (0.8 bcm), Italy (0.4 bcm) and Poland (0.2 bcm). Other countries, such as the UK, Greece and Portugal also imported LNG from the US, showing the diversification of US LNG exports to Europe, according to the report.
On 14 May European Commission Vice-President Maroš Šefčovič and US President Donald Trump took a first look at the Cameron LNG export terminal in Hackberry in the U.S. State of Louisiana, which is expected to launch first shipment in the second half of 2019. Both parties emphasized that "Transatlantic cooperation on LNG is a perfect match. Europe has an attractive, well-integrated gas market that is ready to welcome more competitively priced LNG from the US. By doing so, it will significantly boost Europe's energy security as well as open new business opportunities on both sides"
On 12 June 2019 the Polish Oil and Gas Company (PGNiG) has signed an agreement with Venture Global LNG to purchase an additional 1.5 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from the United States21 . Under this agreement, the volume of LNG from the Plaquemines terminal will increase from 1.0 to 2.5 million tonnes per year (from 1.4 to 3.4 bcm of natural gas after regasification). Deliveries will commence on the commercial operation date, currently expected in 2023. This new amendment raises PGNiG’s total commitment with Venture Global LNG projects to 3.5 MTPA (4.7 bcm), and the total volume of PGNiG's commitment with US LNG exporters amounts to more than 9 bcm per year.
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